Description: Tidbits relate to contingent deferred annuities, wellness benefits in qualified long-term care contracts, and reactivating the active financing exception for insurance companies.

Description: From a session at the Spring meeting of the Society of Actuaries held in San Antonio, Texas, June 14-15, 2004 The panelists discuss the benefits of hedging variable annuity guarantees, the challenges they face and how they keep score.

Description: This web page describes the new Variable Annuity Guaranteed Living Benefits Utilization study.

Description: “Non-traditional” guarantees refer to guarantees that are in addition to traditional mortality, expense, and interest guarantees. Examples of such types of guarantees are death and living benefits on variable annuity contracts and no-lapse guarantees on universal life or variable universal life products. The purpose of this paper is to offer practitioners an overview of the various issues concerning the pricing of these guarantees, the many other issues which need to be analyzed and addressed in the determination of risks and the management of the block of business, and the results of a company survey of practices. This paper is based on the working knowledge of the authors, a broad compilation of literature and the company survey results. At the end of most sections of the paper, we have provided a list of resources which we have selected as some of the best sources available for those practitioners interested in researching the subject matter further.

Description: A discussion of the growing popularity of annuities with guaranteed minimum income benefits GMIB during times of bear markets and some related discussion of product features, minimum statutory reserves and capital requirements for the product

Description: There has been significant discussion of PBR for Life Insurance, but there have also been significant changes in PBR for annuities recently; including VM-21, VM-22, and future VM-23. This session will discuss recent changes in PBR for annuities as well as what the future may hold.

Description: The goal of the survey was to gain insight into companies’ assumptions of variable annuity policyholder behavior in the tail of the C3 Phase II calculation.

Description: Results from the 2008 survey of the Policyholder Behavior in the Tail [PBITT] working group. The goal of the survey was to gain insight into companies’ assumptions in the tail of a stochastic calculation.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: Social Security provides financial protection by annuitizing retirement. This is not enough for many. My idea creates an additional annuity via Social Security.